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If there’s no highway exit for another 6 miles and you’re not passing anyone, there’s a handy lane on the right just for you. You know that. I know that. Every other adult knows that. Yet we see drivers dawdling along in the left (or middle) lane for miles on end as other cars are forced to pass them on the right. In consulting there are equally obvious rules of the road that are, nevertheless, inexplicably ignored by many of our colleagues.
As we approach the year-end, I wanted to share some thoughts from my book, The Consulting Apprenticeship: 40 Jump-Ideas for You and Your Business. It is a technique that I’ve seen a number of operating companies and management consulting firms use effectively. I’ve usually called it the Spring Cleaning technique, to connote a sense of renewal that often comes with the pastime of cleaning and refreshing a home early- to mid-year.
If you’re new to consulting, it won’t take you long to discover that MBB firms are insanely competitive. There are only so many positions they can fill every cycle. There is no shame in trying and coming up a little bit short. But what do you do next if you underprepared, or just had bad luck, and received the dreaded rejection from (horror of horrors) the complete MBB tier?
By: Jen Berkley Jackson. At the end of last year, I conducted research to understand how market research is being used in organizations. We heard back from participants that there are three primary obstacles to doing market research: budget, time and lack of internal resources. This is a familiar story for us as consultants also. These are ALWAYS the obstacles to making huge strides in business whether it has to do with our marketing efforts, our administrative processes, or even in launching
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
This is a guest post from Sarah Smith. Savvy investors know that there is a lot of potential in converting abandoned or derelict spaces into lease-ready properties. Below are five (5) tips on converting a vacant spot into a high-revenue lease property. 1. Pop-Ups. This refers to taking a small vacant space and converting it into a restaurant or shop.
By Fiona Czerniawska. Clients want to have their cake and eat it. They regularly tell us that they’d like to use specialised firms, but in practice they tend to stick with larger ones (and the bigger organisation, the more likely this is). That’s because larger consulting firms can pull together the type of flexible, multidisciplinary teams needed for transformation projects; they’ve also got the global coverage big clients ask for – though don’t necessarily need in practice.
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By Fiona Czerniawska. Clients want to have their cake and eat it. They regularly tell us that they’d like to use specialised firms, but in practice they tend to stick with larger ones (and the bigger organisation, the more likely this is). That’s because larger consulting firms can pull together the type of flexible, multidisciplinary teams needed for transformation projects; they’ve also got the global coverage big clients ask for – though don’t necessarily need in practice.
Each Friday I pause to consider everything I have to be grateful for. Family, friends, a thriving business, homemade banana-chocolate cream pie. Some wise folks do this exercise every day. Others limit their gratitude to a day here or there such as Thanksgiving (in the U.S.) or when they exchange gifts. Terrific. Warm and fluffy as rabbit fur. But how does gratitude help consultants’ businesses?
The concept of nudging and more specifically the behavioral science phrase of “no neutral design” has strong historical ties to social and public sector issues. The motivation for the phrase goes something like this. We have to provide people with information and choices, such as part of governing a country and during driver’s license application processes, social security claiming processes, and hundreds (possibly even thousands) of other processes.
After our annual East Coast Fall Tour, we jetted off to the UK to host events with consulting clubs from King’s College London, University College London, London School of Economics and Political Science, Durham University and Manchester School of Business. Plus – we held our annual London bootcamp at the swanky Grosvenor House J.W Marriott. (8 lucky attendees had a full day’s worth of personalized attention and all of their consulting questions answered).
By: Linda Popky. It happened to me again recently: I was in a situation where I needed to contact the customer service department of a major company. You know the feeling – a product that’s not right, service that didn’t happen, promises that weren’t kept. You probably also know what happens next. That sense of dread and desperation: I’m about to waste a lot of my valuable time trying to resolve this.
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(Source: Flickr ). Humans and chimpanzeees (our closest genetic relatives) are both social animals that have the ability to form groups and communicate between themselves. Why is it then that humans have populated the globe (7 billion and counting) while chimp numbers continue to fall (currently standing at around 250 thousand or less)? A key difference between us and our close genetic cousins is our ability to use, control and reflect upon language.
Welcome to episode #055 of The Crisis Intelligence Podcast, with Melissa Agnes and Brian Willis. The law enforcement industry has been struggling through a lot of heat lately. Many leaders within the law enforcement community are working very hard to overcome this industry crisis and to embed a corporate culture based on trust-building and transparency within their communities.
Pioneering companies in mature economies are learning from emerging markets how to expand their businesses everywhere, by providing innovative products and services that are more eco-friendly and less costly. But as frugal innovation strategies take hold, many more companies will have to learn how to take advantage of this different way of thinking.
Mastering data visualization in PowerPoint will help accelerate your career because it positions you as someone who can present data that drives business decisions forward. think-cell's PowerPoint Best Practices eBook was created specifically for professionals aiming to master the art and science of data-driven storytelling. What’s inside: Practical Insights: Uncover valuable tips for crafting engaging and persuasive presentations.
Robot Theory The battle of robot theory is on. Bank of America paints one picture and McKinsey another. Let's investigate both theories. Automation Will Change Jobs More Than Kill Them As reported by the New York Times, McKinsey says Automation Will Change Jobs More Than Kill Them The report, published on Friday and written by two members of the McKinsey Global Institute, the consulting firm’s research arm, and another McKinsey employee, adds a twist to the debate over the likely nature and pace
By: Renee Daggett. Dave Ramsey wrote the book EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches. In one of his chapters, he talks about the steps a leader should take when making decisions. “Leadership is not for the weak and timid; it requires tremendous backbone…EntreLeadership is simply not for wimps.”. For me, this chapter was a list of do’s and dont’s for making good decisions both personally and in business.
(Source: Flickr ). The product-market expansion matrix may prove useful in the consulting case interview and is relevant when considering growth strategies. It might be used on a standalone basis or as part of a larger profitability framework. There are four ways that a company can pursue growth: Market penetration: A strategy to increase sales to existing customers and increase market share.
This week’s reflection point: Thanksgiving has arrived at the perfect time amid all the chaos and fear that has gripped the world. I got to spend the day in Orlando with my granddaughter at the newly opened American Girl doll store seeing the wonder of it all through the eyes of a 6-year-old. Born in the late 60’s, I grew up in a country of little materials and things but abundant in ideas, dreams and hope for the 8-year-old state of Israel.
Savings Consultants are needed in today’s market more than ever. With an increase in expenses, businesses are looking for opportunities to save. Often unknown to businesses are savings in expense reduction, specialized tax savings, specialized savings including medical underpayments, health benefits cost reduction, zero cost processing, and more. Blue Coast Savings, with over 20 years in business, assists Savings Consultants in helping these companies move toward more profitable businesses.
We know we can assist our clients in two different circumstances: when they have an aspiration (e.g., “they desire an endless supply of chocolate”) or when they suffer with a problem (e.g., “they have run out of chocolate!”) Which scenario should we focus on, and how should we present it in our marketing and proposals? Pretend you’re about to invest $9,000 into equipment for your consulting firm.
When our mental energy is depleted, we are more likely to be disengaged or even act unethically. Mike Christian, an assistant professor of organizational behavior at the University of North Carolina's Kenan-Flagler Business School, talks to s+b about the factors that affect our ability to exhibit self-control.
In response to Robots Will Change World Beyond Recognition reader "DB" has a couple of questions: Who can afford to buy what the robots produce? Does this lead to a world war between the have and have-nots? Those are key questions that should be on everyone's mind. But recall there were two viewpoints written in my post. Bank of America paints one picture and McKinsey another.
There are only so many ways to design enterprise structure. The gravitational pull to greater complexity, and all the challenges that come with it, is powered by the need for new sources of growth in diverse geographic markets across multi-product divisions with increasingly demanding customers and consumers with lots of technology at their fingertips.
This White Paper targets opportunities for Management to develop proficiency in the Decision Framing and Analyses element of input to Decision, & Risk Analyses for Major Project Funding Decisions.
(Source: Flickr ). If you want to practice case questions, I highly recommend Marc Cosentino’s book Case in Point. You can also access sample case questions from various consulting clubs here , and from the following consulting firm websites: McKinsey & Company ; Bain & Company ; Oliver Wyman ; Deloitte ; A.T. Kearney ; Accenture ; and. L.E.K.
This week’s reflection point: There are many myths surrounding the Internet, which are floating around since its inception. I decided to debunk some of them once and for all: Al Gore invented the Internet. I am kidding of course, as I just wanted to grab your attention with some humor. If you build it they will come. Just building it doesn’t attract them.
A consultant emailed me this question yesterday: David, I’ve been recognized in the past by an organization as a “Top Thought Leader” in my area. For 2015, this same organization sent out another invitation for nominees, but this time they included a $99 “application fee.” When I am included in their list they send a press release and include me in their monthly magazine.
As China’s economy gradually settles into its “new normal” of more moderate growth, some of the big, foreign-based multinational corporations in the market—the very ones that global consulting firms followed here—have become a bit skittish about making further investments. With MNCs no longer looking like fonts of perpetual high growth, consultants are increasingly turning to the growing and maturing domestic market to fill the gaps in their spreadsheets.
Case studies are proof of successful client relations and a verifiable product or service. They persuade buyers by highlighting your customers' experiences with your company and its solution. In sales, case studies are crucial pieces of content that can be tailored to prospects' pain points and used throughout the buyer's journey. In marketing, case studies are versatile assets for generating business, providing reusable elements for ad and social media content, website material, and marketing c
France is having second thoughts about open borders. The unfortunate thing is it took a terrorist attack to come to the proper conclusion. I am saddened to report Paris attacked: Dozens Dead, Hostages Taken. Paris was struck by co-ordinated attacks on Friday night, causing chaos in the French capital in one of the deadliest terrorist atrocities on a western city since September 11, 2001.
Bridging Organization Design and Performance is a handbook for leaders looking to enhance the success of their organizations and themselves. Companies that compete globally require organizational operating models as robust as their strategies. Many companies have created elegant designs and consider their worldwide, matrix organizations sources of competitive advantage.
This is a guest post from Sarah Smith. Overview. The competitive nature of business today is stronger than it has ever been, and so it is important for companies to use all of the tools at their disposal. There are many new innovations that allow companies to finance purchases creatively in order to meet their goals over the long term. Here are four (4) examples of financial innovations that can make your business easier to run. 1.
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